this post was submitted on 04 Sep 2023
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[โ€“] Guntrigger@feddit.ch 4 points 2 years ago (1 children)

The most shocking thing to me here is the tax rates. Everywhere I've lived, the lowest bracket of income tax rate is 20-30% rising to 50% for high earners. The fact that the highest earners in the US (literally multi-millionaires and billionaires) are only paying 25% is outrageous to me. The average income tax paid for the 1% bracket is $400k, meaning they are still going home with at least $1.2mil a year. Why are the bottom 50% even paying anything? It's obscene.